Why 1 Potential IPO Stock Could Lift China's Whole Market
Investors are breathing a sigh of relief on Friday morning, as major market benchmarks are finally showing a bit of resolve after a tough week. As of 11 a.m. ET, the Nasdaq Composite (NASDAQINDEX: ^IXIC) was up nearly 1%, and other indexes showed more modest gains on the day.
One area of the market that's doing particularly well on Friday is China. Several Chinese stocks are seeing sharp gains, with market leader Alibaba Group (NYSE: BABA) among the biggest movers. Keep reading to find out what's happening with Alibaba and why investors are so excited about a potential initial public offering (IPO) from among the company's extensive holdings.
Shares of Alibaba Group were up about 5% Friday morning. The Chinese e-commerce giant is reportedly looking to bring one of its subsidiaries public, and that has investors excited about the prospect of unlocking some value from the conglomerate.
Source Fool.com
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